"_Wealth is created by learning curves that result from millions of
falsifiable experiments in entrepreneurship..._"
Its says noting about
the quality of this experiments. Some may really create new value but
some only redistribute value.
Even with gold its may be more safe to
invest in old dept than in new technology. Or in extracting gold as Jed
said.
I think this only is a new version of the old mantra "the
government must do as little as possible".
Yes central banks can screw
tings up but they can also assuage things then the market screw things
up.
On Wed, 5 Aug 2015 20:53:52 +0000, Chris Zell wrote:
FDR was
nearly the victim of a fascist coup that is usually left out of history
textbooks. And we do have nasty inflation in services, which is often
overlooked in gov. stats. (NPR). Wages have suffered relative deflation
as minimum wage will not pay for rent ( properly) in any of the 50
states. I understand that this may extend to all counties now.
I am
tempted by the viewpoint that society is like a 3 year old child just
before bedtime. There is much commotion and resistance and yelling - and
then sudden capitulation. We are seeing and hearing all sorts of
craziness in resisting changes that our world must make. I believe that
the Soviet Union and Fascist Spain ended because their leaders lost all
faith in the system - followed by sudden change. In this, perhaps there
is hope.
